Is it better to flip or rent a house in the current Vail real estate market?
When housing was at its peak people were buying and selling homes in Vail Colorado like crazy. Many people were buying, fixing and selling, a process that became known as flipping. The current real estate market is, without a doubt, a buyer’s market. This is a time where homes in the Vail Valley are more affordable than they have been in years and if people are able to secure financing there are many bargains to be had. That being said is this a good time to flip?
Flipping is great if you can turn a profit but in today’s market how big will your profit be? Many people who are investing in Vail real estate who may have been flippers a few years ago are now becoming landlords. Buying a house, fixing it up and renting it is covering their mortgage cost, possibly putting a little money in their pockets and allowing them to hold off on selling until the market picks back up. In 3, 5 or even 8 years the home that the investor has bought, fixed up and rented out will sell for more than it will today and the investment will pay out that much more, especially if it has been cash flowing the entire time that it was rented.
Flipping a home in Vail makes sense if an investor will turn a profit but right now being a landlord may pay out even more in the long run.
Visit www.vailmountainproperties.com for access to the Vail MLS and all Vail Valley Real Estate listings.
Don’t hesitate to call Gil Fancher today at (970) 390-7469, for excellent service and information on Vail Real Estate!
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